Release: Oropa raises additional funds to advance N. Sumatra gold project

(14 March 2008)--Oropa Ltd announces that it has completed a share placement comprising 13,347,483 shares at a price of 4 cents per share to sophisticated and overseas investors to raise a total of A$533,899.00.

The funds raised will be used to underpin expanded drilling programs at the Company?s 75%-owned Pungkut Gold Project in Indonesia targeting a further increase in its resource inventory and to follow up recent exploration success. Oropa?s inferred resource stocks inventory currently total 710,000 ounces within the Sihayo 1 North and Sambung deposits.

The share placement was completed pursuant to the ?excluded offer provisions of the Corporations Act, 2001. The shares issued pursuant to the placement will rank equally in all respects with the existing ordinary shares of the Company. Following the completion of the share placement, Oropa will have 178,997,367 shares on issue.

Successful diamond drilling programs over the past few months have successfully extended the current Inferred Resource at Sihayo 1 North to the west, returning encouraging intersections including 22.75m @ 4.84 g/t Au from 41m and 2m @ 6.38 g/t Au from 2m.

Work is currently progressing on a revised resource estimate for Sihayo 1 North, which is scheduled to be completed and announced later this month.

Once the updated resource estimate is completed, Oropa intends to initiate a Scoping Study to establish the viability of developing a mine based on the Sihayo 1 North and Sambung resources. There are a number of positive market and project specific developments that support this initiative, specifically;
? A 70% increase in the gold price over the past 2 years and continued favourable longer term outlook from most commentators.
? The development of neighbouring Martabe, by Oxiana Limited, located only 70km away from Pungkut, which has significantly improved infrastructure and skills in the region.
? The relatively shallow and high grade nature of the existing, primarily oxide mineralisation, allowing for straight forward open pit mining and processing using proven technology.
? The very significant exploration potential of the broader province where Oropa holds in excess of 660sqkm of tenements with some 20 identified targets.

The drilling program at the Hutabargot Julu Prospect is targeting a potentially large, high-grade epithermal gold system. This prospect was identified by International epithermal expert Richard Sillitoe as being a priority target. (end of release)